What is the effect of the following transaction on the basic accounting equation?

Paid $$800$ for advertising that ran on the radio.

 

 

Question $\mathrm{<strong> </strong>}$

 

$1)$

Assets increase, owners' equity increases.

$2)$

Liabilities increase, owners' equity decreases.

$3)$

No entry, no effect.

$4)$

Assets increase, liabilities increase.

$5)$

Assets decrease, owners' equity decreases.

$6)$

Liabilities decrease, owners' equity increases.

$7)$

Assets decrease, liabilities decrease.

$8)$

Assets increase, assets decrease.